A Look at New Gold Inc. (NGD) Shares in the Recent Past Indicates Growth

With 2.65 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.14 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $1.2000 whereas the lowest price it dropped to was $1.1500. The 52-week range on NGD shows that it touched its highest point at $2.02 and its lowest point at $0.61 during that stretch. It currently has a 1-year price target of $1.20. Beta for the stock currently stands at 1.46.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NGD was up-trending over the past week, with a rise of 8.33%, but this was up by 13.59% over a month. Three-month performance surged to 32.58% while six-month performance rose 65.51%. The stock lost -28.22% in the past year, while it has gained 19.39% so far this year. A look at the trailing 12-month EPS for NGD yields 0.17 with Next year EPS estimates of 0.08. For the next quarter, that number is -0.00. This implies an EPS growth rate of -125.00% for this year and 366.70% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 2.78%.

Float and Shares Shorts:

At present, 682.30 million NGD shares are outstanding with a float of 680.19 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.73 million, which was 1.13% higher than short shares on Sep 14, 2022. In addition to Mr. Renaud Adams P.Eng. as the firm’s Pres, CEO & Director, Mr. Robert J. Chausse B.Com., C.A., CPA serves as its Exec. VP & CFO.

Institutional Ownership:

Through their ownership of 48.65% of NGD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.76% of NGD, in contrast to 37.60% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in NGD with 9.72% of the stake, Van Eck Associates Corp. holds 66,282,805 shares worth 66,282,805. A second-largest stockholder of NGD, AzValor Asset Management SGIIC SA, holds 57,423,652 shares, controlling over 8.42% of the firm’s shares. Invesco Advisers, Inc. is the third largest shareholder in NGD, holding 17,256,703 shares or 2.53% stake. With a 6.69% stake in NGD, the azValor Internacional, FI is the largest stakeholder. A total of 45,615,839 shares are owned by the mutual fund manager. The VanEck Gold Miners ETF, which owns about 5.20% of NGD stock, is the second-largest Mutual Fund holder. It holds 35,473,280 shares valued at 34.76 million. VanEck Junior Gold Miners ETF holds 3.68% of the stake in NGD, owning 25,130,809 shares worth 24.63 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NGD since 11 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NGD analysts setting a high price target of $2.04 and a low target of $0.95, the average target price over the next 12 months is $1.31. Based on these targets, NGD could surge 74.36% to reach the target high and fall by -18.8% to reach the target low. Reaching the average price target will result in a growth of 11.97% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NGD will report FY 2022 earnings on 02/15/2024. For NGD, this leads to a yearly average estimate of -$0.04. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. New Gold Inc. surprised analysts by -$0.01 when it reported -$0.02 EPS against a consensus estimate of -$0.01. The surprise factor in the prior quarter was -$0.00. Based on analyst estimates, the high estimate for the next quarter is $0.02 and the low estimate is -$0.02. The average estimate for the next quarter is thus -$0.01.

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